Victory Capital Management Inc. Has $3.39 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Victory Capital Management Inc. cut its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 23.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,725 shares of the real estate investment trust's stock after selling 8,968 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of PennyMac Financial Services worth $3,388,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Aigen Investment Management LP acquired a new position in PennyMac Financial Services in the 3rd quarter valued at $280,000. GSA Capital Partners LLP acquired a new position in PennyMac Financial Services in the third quarter valued at $347,000. Summit Global Investments purchased a new position in PennyMac Financial Services during the third quarter worth about $605,000. Harbor Capital Advisors Inc. acquired a new stake in PennyMac Financial Services in the 3rd quarter worth about $37,000. Finally, Blue Trust Inc. grew its holdings in PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PFSI shares. Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Barclays lifted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Piper Sandler boosted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $115.86.

PennyMac Financial Services Stock Performance

PFSI traded up $1.67 during trading on Friday, reaching $105.62. 166,463 shares of the company were exchanged, compared to its average volume of 274,491. The firm has a 50 day moving average of $106.77 and a 200 day moving average of $100.29. PennyMac Financial Services, Inc. has a 52 week low of $76.57 and a 52 week high of $119.13. The stock has a market cap of $5.41 billion, a P/E ratio of 33.53 and a beta of 1.79. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 earnings per share. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 38.10%.

Insider Transactions at PennyMac Financial Services

In other news, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares of the company's stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares of the company's stock, valued at approximately $1,714,629.60. This represents a 49.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,991 shares of company stock valued at $9,948,749 over the last three months. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.